High Real Estate Group and Armstrong World Industries Sign Agreement for Industrial Land Purchase in Manor Township
High Real Estate Group LLC (HREG) and Armstrong World Industries, Inc. (AWI) are pleased to announce they have entered into an agreement for High to purchase 476 acres of undeveloped, industrially zoned land to the south and west of AWI’s corporate headquarters in Manor Township.
High Real Estate Group is in the early stages of assembling a team of experienced and highly respected professionals who will work collaboratively with Armstrong, Manor Township officials, and local stakeholders to develop a market-driven long-term master plan for the property.
“Our vision is to deliver a high-quality mixed-use development which includes thoughtful placemaking, natural areas, and open spaces that enhances the overall community, similar to other transformative projects we have successfully delivered in the past,” said Mark Fitzgerald, president and COO, High Real Estate Group LLC.
The initial master planning process will take approximately 12-14 months. After that, portions of the land could be considered for development based on market demand and economic conditions. The transaction is expected to close in late 2024.
Armstrong has been operating in Lancaster County for over 100 years and has invested millions of dollars in supporting and engaging with the local community. The company will continue to retain ownership of their corporate campus and to invest in its operations and people for future growth in Lancaster County and beyond.
“We are excited to partner with High on this transaction given our companies’ mutual commitment to the local community and long history of innovation, integrity, and investing for growth,” said Vic Grizzle, Armstrong World Industries president and CEO.
High’s reputation, values, and commitment to enhancing the long-term economic vitality in Lancaster County was reinforced in 2022 when S. Dale High and the High Family announced the transfer of their family ownership of High Industries to High Foundation. This means dividends from High Industries go to the Foundation to support its mission of improving the lives of people who live and work in Lancaster and other communities where High companies have a presence.
About High Real Estate Group LLC
High Real Estate Group is a full-service real estate organization providing expertise in development, brokerage, architecture, construction, and investments. Through its affiliate, High Associates Ltd., it offers a full complement of real estate services including asset and property management, appraisal services, grounds and property maintenance, strategic planning, and consulting. The company manages more than 10 million square feet of office, industrial, multi-family, hotel, and retail properties throughout the eastern United States. High Real Estate Group is based in Greenfield, East Lampeter Township, Lancaster, Pa. More information is available at www.highrealestategroup.com.
About Armstrong World Industries, Inc.
Armstrong World Industries, Inc. (AWI) is a leader in the design and manufacture of innovative ceiling and wall solutions in the Americas. With $1.2 billion in revenue in 2022, AWI has approximately 3,000 employees and a manufacturing network of 16 facilities throughout North America, plus seven facilities dedicated to its WAVE joint venture.